DEPARTMENT OF MANAGEMENT STUDIES ORGANIZED EXPERT LECTURE ON “UNETHICAL PRACTICES IN MARKETING” ON 4th FEBRUARY, 2016
Business ethics is a topic that has received a ton of attention over the last several years. Ethical marketing is less of a marketing strategy and more of a philosophy that informs all marketing efforts. Keeping this issue in mind, Department of Management Studies organized an expert lecture on “Unethical Practices In Marketing” on February 4, 2016. Dr. Satinder Kumar, Punjabi University, Patiala commenced the session with the concept that Ethical Marketing seeks to promote honesty, fairness, and responsibility in all types of advertising. He elaborated that ethical marketing is not a hard and fast list of rules, but a general set of guidelines to assist companies as they evaluate new marketing strategies. Unethical marketers focus more about the present but ethical marketers focus greatly on the future because the future is what matters most. He further added that this kind of unethical behavior can quickly lead to failure for companies looking to improve the image of a brand and develop long-term relationships with customers. He also explained the psychology of customers that customers do not want to feel manipulated by the brands they like the most.
As a result, companies can use ethical marketing as a way to develop a sense of trust among their customers. Talking about the ethics, he further elaborated that any ethical marketing effort will begin with a careful analysis of the company, its customers, and the markets it operate. Ethical marketing has many advantages, but few companies would undertake an ethical marketing strategy if it reduces profits. Over all, the session was quite fruitful in terms of knowledge and experience. The students of the Department understood the application of Ethics in personal and professional life, which will be helpful in building up their career.